Virgin cuts residential and buy-to-let rates by up to 0.24%

Virgin Money has announced rate reductions of up to 0.24% across its residential and buy-to-let purchase ranges.

In its broker exclusive purchase range, rates are down by up to 0.15%. Two-year fixes have reduced by between 10-15bps, now starting from 3.73% at 75% and 80% LTV with an £895 fee and 3.90% fee-free. 

Five-year fixed rate highlights include 75% LTV rates down to 3.82% with an £895 fee and 3.94% fee-free, with a fee-saver 90% LTV reducing to 4.28%.

In Virgin's standard purchase range, two-year fixed rates have reduced by up to 24bps, now starting from 3.79% with a £999 fee and 3.98% fee-free. Five-year fixed rates now start from 3.86% and 3.97% respectively.

In addition, shared ownership fixed rates have reduced by up to 0.24%, now starting from 3.79%.

For buy-to-let, rates have reduced by up to 0.21%, with 60% LTV two-year fixes starting from 3.87% with a £2,195 fee or 3.89% with a 1% fee.

At 75% LTV, two-year fixed rates now start from 3.87% and five-year rates from 4.10%, both with a £2,195 fee.

In Virgin's product transfer range, rates have reduced by up to 6bps, with two-year fixed rates now available from 4.08% at 75% LTV and 4.44% at 85% LTV, both with no fees.

At 75% LTV, a three-year fixed rate with a £999 fee is down to 3.89% and a five-year fix with no fee has reduced to 4.02%.